Rising popularity of paperboard packaging material for its high flexibility will amplify the sanitary food & beverage packaging market growth.
Future Market Insights, Dubai: According to Future Market Insights, the sanitary food & beverage packaging market saw soaring growth in 2020 at compound annual growth rate (CAGR) of 5%. As per recently updated FMI analysis, the sanitary food & beverage packaging market likely to register 5.8% CAGR between 2021 and 2031.
Implementation of strict regulatory policies by international food & beverage packaging regulatory bodies to promote sustainable sanitary food & beverage packaging will accelerate the market growth.
Modernization in food packaging industry has also made a significant impact on sanitary food & beverage packaging market growth. Introduction of eco-friendly packaging materials and digitization of supply chain will boost the market growth.
COVID-19 pandemic led to elevated demand for sanitary food packing. Focus on containing the spread of the virus and the subsequent need to offer sterile packaging will bode well for the market.
As per the United States Environmental Protection Agency (EPA), nearly 82,220 tons of municipal solid waste was generated in 2018. Out of the total amount, nearly 44,000 tons was recycled and more than 30,000 tons was used in landfills.
Food and beverage industry generate around 42,000 tons of paper and paperboard packaging waste every year. This has compelled industries and corporations to focus on minimizing the waste generated by the adoption of sustainable material for packaging. Utilization of eco-friendly materials by leading food and beverage companies will drive the market growth in upcoming years
“Increasing use of naturally derived packaging materials coupled with introduction of smart packaging management solutions at production level will elevate sanitary food & beverage packaging market growth,” remarks the FMI analyst.
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Key Takeaways
Prominent Drivers
Key Restraints
Discover more about the sanitary food & beverage packaging market with figures and data tables, along with the table of contents. You will also find detailed market segmentation on https://www.futuremarketinsights.com/reports/sanitary-food-and-beverage-packaging-market
Competitive Landscape
As per Future Market Insight’s analysis, the main area of focus among all market players is to develop advance packaging tools and incorporating lightweight materials along with flexible and sustainable manufacturing approach to expand their market foothold.
The key market players are employing inorganic strategies like strategic acquisitions, mergers and collaborations to standout in the highly competitive market.
According to FMI’s report, the following sanitary food & beverage packaging manufacturers currently operate in the global market:
More Insights on FMI’s Sanitary Food & Beverage Packaging Market
The latest market study on global sanitary food & beverage packaging market by Future Market Insights gives a detailed segmentation for the forecast period of 2021-2031. In order to gain a better perspective of the global market potential, its growth, trends, and opportunities, the market is segmented on the basis of:
Packaging Type
Product Type
Region
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Future Market Insights (FMI) is a leading provider of market intelligence and consulting services, serving clients in over 150 countries. FMI is headquartered in Dubai, and has delivery centers in the UK, U.S. and India. FMI’s latest market research reports and industry analysis help businesses navigate challenges and make critical decisions with confidence and clarity amidst breakneck competition. Our customized and syndicated market research reports deliver actionable insights that drive sustainable growth. A team of expert-led analysts at FMI continuously tracks emerging trends and events in a broad range of industries to ensure that our clients prepare for the evolving needs of their consumers.
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